Naira/dollar exchange rates: From N128/1$ under Obasanjo to N1489 under Tinubu
From Obasanjo to Tinubu: List of Dollar to Naira Exchange Rates under 5 Nigerian Presidents.
FCT, Abuja – Nigeriaβs economy has constantly been shaped by the fluctuation of the dollar in different administrations since the return of democracy in Nigeria. The high cost of living and economic hardship can be linked to the dollar seemingly gaining strength daily.
the naira appreciated against the US dollar in the official foreign exchange market on Wednesday, February 21, 2024, after falling to a record low.
Data from FMDQ Securities showed that at the Nigeria Autonomous Foreign Exchange Market (NAFEM), the naira closed at N1542.5$ on Wednesday.
In this article, Usherloaded.net highlights the exchange of rates from Olusegun Obasanjoβs administration in 1999 to President Bola Ahmed Tinubu, as reported by The Nation.
Olusegun Obasanjo β 1999-2023
The Obasanjoβs administration met the official exchange rate at N21.89/$ and left it at N128.29/$.
Umar Musa Yarβadua β 2007-2010
During Yarβaduaβs administration, the official exchange rate moved from N128.29/$ to N149.99/$.
Dr Goodluck Jonathan -2010-2015
There was a slight increase in the official exchange rate during Jonathanβs administration. The official exchange rate moved from N149.99/$ to N196.95/$.
Muhammadu Buhari -2015-2023
The Dollar increased during Buhariβs administration experienced over 100% increment. The official exchange rate moved from N196.95/$ to N461.06/$.
Bola Ahmed Tinubu β 2023
The official exchange rate from the Central Bank of Nigeria (CBN) as of Thursday, February 22, 2024, is N1488.396/$ and selling for N1489.396/$. Naira crashes against the dollar in FX markets.
on Wednesday, February 14, 2024, the naira depreciated against the dollar, crossing the N1,500/$ mark due to a sharp drop in foreign exchange turnover.
This comes barely 24 hours after the naira closed at N1499.07 to the dollar on Tuesday, bouncing back from its all-time low in the official foreign currency market.
This comes barely 24 hours after the naira closed at N1499.07 to the dollar on Tuesday, bouncing back from its all-time low in the official foreign currency market.
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